Q7-2 What Are Examples of Common Business Processes? Flashcards
(41 cards)
What is a value chain in business?
A value chain is a series of value-adding activities within an organization, divided into primary activities (e.g., inbound logistics, operations) and** support activities** (e.g., human resources, technology development).
What are the five primary activities in a value chain?
Inbound logistics
Operations
Outbound logistics
Sales and marketing
Customer service
What are the support activities in a value chain?
Human resources
Technology development
Infrastructure
What is the role of inbound logistics in the value chain?
Inbound logistics involve receiving, storing, and disseminating inputs to products.
What is the role of operations in the value chain?
Operations transform inputs into final products.
What is the role of outbound logistics in the value chain?
Outbound logistics involve collecting, storing, and physically distributing products to buyers.
What is the role of sales and marketing in the value chain?
Sales and marketing involve inducing buyers to purchase products and providing means for them to do so.
What is the role of customer service in the value chain?
Customer service assists customers’ use of products and helps maintain and enhance the product’s value.
What are examples of operational processes in value chain activities?
Inbound logistics: Procurement
Operations: Assembling products
Outbound logistics: Sales
Sales and marketing: Mail promotion
Service: Tracking orders
What are examples of managerial processes in value chain activities?
Inbound logistics: Manage inventory
Operations: Schedule maintenance
Outbound logistics: Award refunds
Sales and marketing: Evaluate promotional discounts
Service: Evaluate complaint patterns
What are examples of strategic processes in value chain activities?
Inbound logistics: Evaluate potential suppliers
Operations: Open new restaurant
Outbound logistics: Determine payment policy
Sales and marketing: Launch a new product
Service: Evaluate outsourcing options
What are inbound logistics processes?
Inbound logistics processes involve** receiving, storing, and disseminating** product inputs.
Examples include procurement, inventory management, and supplier evaluation.
What is procurement in the context of inbound logistics?
Procurement is an operational process that acquires goods and services, such as ordering ingredients and paying for them.
What is the role of inventory management in inbound logistics?
Inventory management is a managerial process that uses past data to compute stock levels, reorder levels, and reorder quantities according to inventory policies.
What are operations processes?
Operations processes transform inputs into outputs.
These include scheduling the equipment, people, and facilities necessary to build or assemble products or services, such as assembling and baking pizzas.
What is an example of an operations process in management?
An example of a managerial operations process is scheduling maintenance for equipment like ovens.
What are outbound logistics processes?
Outbound logistics processes involve collecting, storing, and distributing products to buyers.
They are crucial for managing the movement of finished goods inventory.
What is an example of an operational outbound logistics process?
An example is the Sales process, which records orders, ships products, and bills customers.
What are sales and marketing processes?
Sales and marketing processes provide the means and incentives for customers to purchase a product or service, with the primary objective of transforming prospects into customers.
What is an operational sales and marketing process?
An operational process in sales and marketing is Promotion, such as mailing promotions to potential customers.
What are service processes?
Service processes provide after-sales support to enhance or maintain the value of a product.
Examples include tracking orders, customer support, and support training.
What is an operational service process?
An operational service process involves tracking customer orders and providing customer support.
What is an example of a managerial service process?
An example is evaluating customer complaints to identify patterns and improve service.
What are human resources processes?
Human resources processes **assess employee motivations and skills, create job positions, investigate employee complaints, and staff, train, and evaluate personnel. **
These processes can range from recruiting to determining organizational structure.